re: The Federal Reserve is not a federal agency.

Another question for you to ignore: who sets the annual salaries of the Federal Reserve's Chairman, Vice-chairman and all of the Board of Governors?

Anytime you get put into a corner you play 'push the page'.

Remember that comment you made to someone about the spelling of the word 'grammar'? You totally missed that he was being sarcastic because there were multiple words misspelled on purpose. I called you out twice, and each time you ignored it and pushed the page down. In fact you flipped this script and spent time calling me a coward, when you had literally just been a coward.

You have a question, okay. The government sets the salaries for the Fed. What does that have to do with the fact that it is not an official federal agency? Are you going to address the fact that the actual chairmen of the Fed said it is independent and no other agency has power of it? They are audited by a private company, not our government. The time they were audited by our government they found 16 trillion dollars that went out to many foreign entities. Yes, you talked about this in a response, but I wonder how the American people would feel about this? Why isn't this 16 trillion dollar thing in the news more? Because people would be outraged.

re: The Federal Reserve is not a federal agency.(Posted by mograyback on 12/6/12 at 5:36 pm to DapperDan)

quote:DapperDan

But it's not a federal agency. A federal agency wouldn't get away with a private company doing it's audit. I mean the chairmen himself said it's independent from the federal government. I definitely see that there is a working relationship between the Fed and our federal government, but that doesn't mean it is federal.

re: The Federal Reserve is not a federal agency.(Posted by LSURussian on 12/6/12 at 5:41 pm to mograyback)

quote: maybe the would take the chairman of the Fed serious when he says "the Federal Reserve is an independent agency".

It's been explained to you several times but you're too stupid to comprehend what he was saying.

The policy decisions of the Fed are independent of political interference, as they should be. No government official can overrule their decisions. Only congress can pass a law to do that.

Do you actually believe Greenspan didn't know he was nominated as Chairman of the Federal Reserve by the President of the United States and confirmed by the U.S. senate? Do you believe he didn't know that congress set his annual salary and the salary of the vice-chairman and the entire board of governors? Is that what you think?

Every time you bring this up it only further highlights your utter ignorance.

re: The Federal Reserve is not a federal agency.(Posted by mograyback on 12/6/12 at 5:52 pm to LSURussian)

quote:Every time you bring this up it only further highlights your utter ignorance.

Speaking of ignorance, have you once mentioned anything from that 10 minute video I posted? You're probably too smart to even watch it (is that the definition of ignorance?).

I really don't know what setting salaries has to do with the fact there is no federal oversight of the Fed. Have I denied a working relationship? No. Greenspan was nominated by the President, great.. what does that have to with no oversight of the Fed? If you watched the 10 minute video you'd hear direct quotes from former presidents and prominent minds explaining how there is no way for our government to really control the Fed.

Really Russian, defending the Fed is about as unpopular a thing you can do these days. Bright people on both sides of the political spectrum understand this independent agency has been doing it's own thing for far too long. Why does a private company do the Fed audit?

And looks like you ignored my response to 'why you push down a pages'... That's three times now you've dodged that mishap you had.

re: The Federal Reserve is not a federal agency.(Posted by LSURussian on 12/6/12 at 5:54 pm to mograyback)

quote:Anytime you get put into a corner

quote:Remember that comment you made to someone about the spelling of the word 'grammar'?

NC Tigah and I have a running joke about such things. He knew what I meant. You're not invited to be a part of our joke.

quote:They are audited by a private company, not our government.

So what? Do you somehow think that means something? The GAO can audit the Fed anytime congress tells it to do so. In fact, the GAO reviews the Fed's operations annually and reports its findings to congress.

quote: The time they were audited by our government they found 16 trillion dollars that went out to many foreign entities

No, they didn't. I've already explained that to you in the simplest terms I could articulate. Apparently it wasn't simple enough for you. This is just another LIE you like to tell, liar.

quote:Why isn't this 16 trillion dollar thing in the news more? Because people would be outraged.

NO, it's because once Bernanke explained it before the congressional committee most intelligent people realized it was nothing out of line. Those transactions were common procedures that were noteworthy only because the financial crisis increased the volume of transactions in a short period of time. And the Federal Reserve actually made a profit from it (and remitted the net profit to the Treasury Department).

Frankly, only very simpleminded, paranoid people (like you) can't understand how normal those transactions were and how they actually benefited the U.S. and the world's financial system.

re: The Federal Reserve is not a federal agency.(Posted by mograyback on 12/6/12 at 6:03 pm to LSURussian)

quote:NC Tigah and I have a running joke about such things. He knew what I meant. You're not invited to be a part of our joke.

Nah, if that was the case you would have said this the first few times I brought it to your intention instead of ignoring it.

You misplayed that badly, you didn't pick up on his sarcasm.

quote:So what? Do you somehow think that means something? The GAO can audit the Fed anytime congress tells it to do so.

So what? So do real federal agencies get to be audited by a private company? No. And the GAO has finally been allowed to audit them, and in their one and only audit they found 16 trillion dollars that went to corporations and banks, some foreign. I don't care what you have to say, Americans would be outraged to learn that fact. Bernanke had been fighting tooth and nail to not allow an audit, and they continue to fight for more power and we fight for more transparency.

quote:No, they didn't. I've already explained that to you in the simplest terms I could articulate. Apparently it wasn't simple enough for you. This is just another LIE you like to tell, liar.

It's not a lie. It would be a lie if they didn't actually find 16 trillion dollars that were given to corporations and banks. But they did, therefore it's not a lie. In your opinion there is more too it, and they had 'good reason' to give this out, but it's not a lie.

quote:Frankly, only very simpleminded, paranoid people (like you) can't understand how normal those transactions were and how they actually benefited the U.S. and the world's financial system.

Normal as in frequent, or normal is in the right thing to do. Just because something was happening frequently and with ease doesn't mean it was right. And if you want to be 'frank', only people that need self validation continue to try to degrade someone, as you have to me.

re: The Federal Reserve is not a federal agency.(Posted by mograyback on 12/6/12 at 6:05 pm to LSURussian)

quote:LSURussian

You're a guy that has been on this site a long time, you feel the need to maintain your status here.. that's fine.

You've been here long enough to master the art of the forum ways, you know how to degrade people, push pages, quote snipe, and deflect. You're very good at what you do... I'll give you the satisfaction of the final post, make it a doozy.

If anyone stopping by cares to hear from the Federal Reserve chairmen himself, you can find it on page 9. He says it's an independent agency that can not be over powered by other agencies in our government. You can also find a 10 minute video explaining the Federal Reserve and how it acts independently. The Federal Reserve is not a federal agency, it has a working relationship with our government, but there is no real oversight as admitted by the chairmen of the Fed.

re: The Federal Reserve is not a federal agency.(Posted by GumboPot on 12/6/12 at 6:14 pm to mograyback)

quote:Interesting.. because the all knowing cwill just wrote that Keystone XL has no bearing on our oil usage.

Right, however shipping more product to US refineries will increase our manufacturing exports.

quote:If you don't touch that region the environment is protected. Why say "if the tar sands" I'm simply saying that if you didn't touch the tar sands that is the only way you're truly protecting the environment.

Now you are confusing production with transportation. Keystone is a transportation issue. If you are against the production of the oil sands take it up with the Canadians. In the meantime it's ignorant to continue to halt the most productive, safe, and environmentally friendly form of transportation, pipeline.

re: The Federal Reserve is not a federal agency.(Posted by mograyback on 12/6/12 at 6:20 pm to GumboPot)

quote:

Right, however shipping more product to US refineries will increase our manufacturing exports.

Well then that contradicts what NC_Tigah is aiming at.. he thinks it will help us get rid of those pesky Arab terrorists. So if it has no bearing on our use of foreign oil, NC_Tigah must be aiming in the wrong direction..

quote:Now you are confusing production with transportation. Keystone is a transportation issue. If you are against the production of the oil sands take it up with the Canadians. In the meantime it's ignorant to continue to halt the most productive, safe, and environmentally friendly form of transportation, pipeline.

I consider it one big issue. We could tell the Canadians they're tapping into a resource that is dirty and costly (not just in dollars) to transform into usable oil. We could as a species decide it's not a smart move. It's ignorant to think there is anything safe and environmentally friendly from any of this project.